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Tag Archives | Financial Psychology

It’s Not How Much You Spend, It’s Why You Spend

“It’s not just shopping, it’s retail therapy.” As a bumper sticker or a joke between friends, this may be amusing. For those who shop to relieve stress, it’s not nearly so funny. Medicating or soothing painful feelings with money is no healthier a behavior than medicating with alcohol or food. When stressed or in difficult […]

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Investing Money In Happiness

It turns out money can buy happiness, after all—sometimes. Having a good income and the security of money invested for the future don’t insure happiness, of course. They do, however, give us a foundation that can make it easier to find happiness. Part of the secret to using money to foster happiness is knowing what […]

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Why Rosier Economic Outlook Hasn’t Eased Money Anxiety

Two economic indicators suggest that the US economy is recovering from the recession. The housing market is almost back to 2006 levels in most areas of the country. We’ve also seen record highs for the Dow Jones stock index. Yet, according to a recent survey by Money magazine, many people still feel anxious about their […]

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Give Sinking Financial Ship a Chance to Come Back Up

When should you abandon a sinking financial ship? Not merely because it’s being tossed by stormy seas. I was reminded of this at a recent gathering of financial advisors. One participant noted that five years ago he would have never disclosed he was a market timer. Such a revelation would have been greeted with disdain. […]

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Finding Your Financial Comfort Zone

Try to imagine the enormous range of possible financial conditions in which human beings can live. At the lowest end is bare subsistence—the minimum food and shelter possible to sustain life. At the highest end is unlimited wealth—multi-billionaires with more than they, their children, and their grandchildren could possibly spend. Most of us, of course, […]

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